NOW
Market read
The latest filing is mixed. 5 of 35 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 25 directly disclosed connections are confirming.
Invalidation: The live read weakens if participation falls to 12 of 35 members or fewer.
Research brief
The latest filing is mixed. 5 of 35 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 25 directly disclosed connections are confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
No qualifying adverse evidence was identified; that is not proof there is no downside.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“Stock-based Compensation 35 Table of Contents Three Months Ended March 31, % Change 2026 2025 (dollars in millions) Cost of revenues: Subscription $ 84 $ 68 24 % Professional services and other 12 11 9 % Operating expenses: Sales and marketing 150 148 1 % Res…”10-Q · Apr 23, 2026 ↗
“Other Income (Expense), net Three Months Ended March 31, % Change 2026 2025 (dollars in millions) Interest expense $ (6) $ (6) — % Other 88 (5) NM Other income (expense), net $ 82 $ (11) NM Percentage of revenues 2% —% NM - Not meaningful Other income (expens…”10-Q · Apr 23, 2026 ↗
“These increases were partially offset by an impairment of assets of $30 million that was recorded in the three and six months ended June 30, 2025.”10-Q · Jul 23, 2026 ↗
“The acquisition is expected to close during the second half of 2026, subject to customary regulatory approvals and closing conditions.”10-K · Jan 29, 2026 ↗
Valuation discipline
Price/sales 10.3× · EV/sales 10.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for NOW. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
10-Q filed 2026-04-23 against the comparable filing from 2025-04-23.
“Stock-based Compensation 35 Table of Contents Three Months Ended March 31, % Change 2026 2025 (dollars in millions) Cost of revenues: Subscription $ 84 $ 68 24 % Professional services and other 12 11 9 % Operating expenses: Sales and marketing 150 148 1 % Research and development 236 185 28 % General and administrative 76 58 31 % Total stock-based compensation $ 558 $ 470 19 % Percentage of revenues 15% 15% Stock-based compensation increased by $88 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to additional grants to current and new employees and stock-based awards granted in connection with acquisitions.”
“Other Income (Expense), net Three Months Ended March 31, % Change 2026 2025 (dollars in millions) Interest expense $ (6) $ (6) — % Other 88 (5) NM Other income (expense), net $ 82 $ (11) NM Percentage of revenues 2% —% NM - Not meaningful Other income (expense), net increased by $93 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily driven by unrealized gains on strategic investments.”
“Sales and Marketing Three Months Ended March 31, % Change 2026 2025 (dollars in millions) Sales and marketing $ 1,216 $ 1,054 15 % Percentage of revenues 32% 34% Sales and marketing expenses increased by $162 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025, primarily due to increased headcount resulting in an increase in personnel-related costs including stock-based compensation and overhead expenses of $73 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“Additionally, our relationships with global system integrators such as Accenture, Cognizant, Deloitte, EY, Infosys and KPMG, among others, continue to help us expand our business by offering ServiceNow solutions to their customers.”
“Additionally, our relationships with global system integrators such as Accenture, Cognizant, Deloitte, EY, Infosys and KPMG, among others, continue to help us expand our business by offering ServiceNow solutions to their customers.”
Depended on by
“We have several key partnerships, including with Amazon Web Services, Broadcom, Cisco, Dell, Dynatrace, Google Cloud, HPE, Microsoft, NVIDIA, Oracle, Palo Alto Networks, Red Hat, Rubrik, SAP and ServiceNow that accelerate market participation, joint solution…”
Filing peers
Companies whose filings use similar operating language.
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What is moving around it
NOW is currently a Participant in the organic co-movement group Software Stocks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
No durable theme membership has been observed for this name yet.